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Report Overdrawn Basis, S-Corp in ATX


G2R

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Client overdrew his basis (S-Corp).  LTCG will be recognized on his personal return. 

1120S Return: In ATX, page 4, Balance Sheet, R/E line is directly linked to the M-2 AAA analysis.

Because my client overdrew his basis, the balance sheet SHOULD list R/E as a negative value and the M-2 should be zero, but since ATX links the two, the balance sheet is unbalanced. 

Without forcing the entry somewhere, where/how can I make ATX display the balance sheet retained earnings amount (which will be a negative value) different from the AAA which will be ZERO?  image.thumb.png.495c16d1f68a7f36b5d8e3cdcdc6e730.png

 

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9 hours ago, Abby Normal said:

Distributions in excess of AAA (NOT basis) go on line 7 of the Analysis of AAA worksheet, in the Timing Differences column. No need to override anything.

Thanks!  That's where I ended up putting it and it flowed through perfectly!  Thanks again for your reply. 

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